Azar Chemical Industries &Industrial Chemical Co (Acera) is being investigated for possible complicity in poisoning people from a chemical factory at the Rishikesh Industrial Complex in Maharashtra.
A group of people who had contracted the illness were taken to a hospital in Rishidabad, where they were declared dead, said a senior officer of the Ravi Nagar police station.
Azar Chemical Industry &Industry Co has denied any involvement in the incident.
The company has been under investigation for allegedly supplying chemical to the Ministry of Health for several years.
A source in the Rani Nagar industrial zone said they had been asked to sign an affidavit by Azar in support of their case.
The statement was filed on Thursday.
The hospital statement said Azar had been involved in the production of the industrial chemical that killed the two people, a man and a woman.
The source said Azars chief executive officer, Anil Sharma, had admitted responsibility for the deaths of the two and was being questioned by police.